Corporate Social Responsibility of Steel PSUs
INDIACSR News Network
NEW DELHI: As per the existing guidelines issued by the Department of Public Enterprises in April, 2010, all profit making Central Public Sector Enterprises (CPSEs) are required to allocate budget mandatorily as percentage of net profit in the following manner:
CPSEs are mandated to spend their funds on CSR projects selected by CPSEs with the approval of their respective Boards. CPSEs are required to select CSR activities which are aligned with their Business strategy and undertake them in a project mode. They may take up CSR projects in the vicinity of the plant, factory or unit of the company, or anywhere in the country.
Under the Corporate Social Responsibility (CSR) Scheme, the steel manufacturing Public Sector Undertakings namely Steel Authority of India Limited (SAIL) and Rashtriya Ispat Nigam Limited (RINL) are allocating funds for the CSR activities as per the aforesaid policy. The details of funds allocated by these companies under CSR during each of the last three years and current year are as under:
The projects implemented under the CSR relate to water supply arrangement, construction of school buildings, supply of educational materials in schools, electricity facility, solar lighting system, health and family welfare, irrigation facilities, sanitation and public health, relief to victims of natural calamities, imparting vocational training etc. These projects are located in the States of Chhattisgarh, Odisha, West Bengal, Jharkhand, Andhra Pradesh, Bihar etc. Funds under the scheme of CSR are not allocated state-wise.
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